Business
AGM Results and Strategic Overview
AGM Results and Strategic Overview.
About this update from Oriole Resources Plc
[{"type":"text","content":"\n \nRNS Number : 3184Z Oriole Resources PLC 16 May 2019 \n\nOriole Resources PLC \n('Oriole Resources' or 'the Company' or 'the Group')\n \nAGM Results and Strategic Overview\n \nOriole Resources, the AIM-quoted exploration company, focused on exploration in West Africa, held its AGM at 15:00 today where all resolutions were duly passed.\n \nA new corporate presentation is now available on the Company's website https://orioleresources.com/investors/reports-presentations/.\nAt the meeting John McGloin, Non-Executive Chairman, said: \n \n\"During 2018, we secured a new US$8 million joint-venture for our project in Senegal, recruited a new, technically-strong Management team and Board, expanded into Cameroon and made significant reductions in our administrative costs. This gave us a strong foundation with which to start the year and the team has continued to deliver positive newsflow across the business. \n \n\"In Cameroon, systematic exploration has continued, delivering solid progress at Bibemi and Wapouzé, through the respective Phase 1 trenching (8,742 metres, with 3,608 samples reported to date) and soil (2,119 samples) programmes, and delivering on the Year 1 earn-in expenditure commmitment. Phase 2 infill programmes are nearing completion, with further results from both projects anticipated later this quarter. Cameroon is a 'new frontier' with respect to modern gold exploration, offering huge potential in what is a geologically highly-prospective terrane. Following almost a year on the ground, we are very comfortable operating in Cameroon and see it as a key growth centre going forward. As such, we will be expanding our footprint during the year, with additional licences under our existing JV and new licence applications under a subsidiary of Oriole, in order to secure our first-mover advantage. We anticipate that companies will continue to follow our lead and expect the pace of investment in exploration to increase once results from the first phase of the World Bank-funded 'PRECASEM' geological targeting programme - led by the French and Finnish geological surveys - are released later this year. The Cameroonian government is highly supportive of foreign investment into the mining sector, having revised it's mining code in 2016, and we are pleased to be leading the way. \n ...